Cement News tagged under: Saudi Arabia

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Saudi Cement producers profits recover in 2Q19

02 August 2019, Published under Cement News

Saudi Cement posted net income of SAR92.3m (US$24.613m) in 2Q19 and profits were up 59 per cent in the period compared to 2Q18, but declined  by 30.3 per cent compared to 1Q19. The company recorded cement sales of SAR338.6m and received average prices of SAR217.6/t. "The YoY increase is mainly attributed to improved selling price and volumetric sales, despite an increase in administrative expenses. Deviation in 2Q earnings from our estimates is mainly ascribed to higher-than-expected cost...

Yamama Cement reports 47% net profit increase in 2Q19

31 July 2019, Published under Cement News

Saudi Arabia’s Yamama Cement has recorded a 46.6 per cent YoY increase in net profit for the second quarter of 2019, rising to SAR53.2m (US$14.19m) from SAR36.3m. The company’s sales saw a similarly positive result, advancing 47.6 per cent to SAR165.3m against SAR112m of the 2Q18.

Saudi Arabia to reimpose cement export fees

29 July 2019, Published under Cement News

After two-years of freezing cement and steel export fees, Saudi Arabia will begin levying fees on cement leaving the country in a bid to prop up falling oil revenues. The ban on cement exports from Saudi Arabia was lifted in mid-2017 when domestic demand slumped and cement stocks rose. Fees on cement exports were cut by 50 per cent over the last two years. However, Trade and Industry Ministry spokesman, Abdul Rahman Hussein, said: "The Ministry will shortly resume levying fees on steel a...

Najran Cement narrows net loss in 2Q19

29 July 2019, Published under Cement News

Saudi Arabia’s Najran Cement has narrowed its net loss to SAR2.6m (US$693,333) in the 2Q19, compared with SAR31.7m of the year-ago period. Sales rose 38 per cent YoY to SAR76.3m from SAR55.3m. The company also reported a decrease in the cost of production per tonne of cement and higher prices.

Tabuk Cement records 48% sales surge in 2Q19

24 July 2019, Published under Cement News

Saudi Arabia’s Tabuk Cement has reported a SAR9m (US$2.4m) net profit for the second quarter of 2019, against a loss of SAR36.1m in the 2Q18. The company’s sales saw a 48.2 per cent YoY surge to SAR61.2m from SAR41.3m. The average selling price across the quarter also improved.

Saudi sales rise in June 2019

12 July 2019, Published under Cement News

Cement sales in Saudi Arabia increased 20 per cent YoY to 2.55Mt in June 2019, compared to 2.13Mt in the same month last year, according to data compiled by Yamama Cement Co. Only four cement producers out of 17 in total reported lower sales for the month. Tabuk Cement saw the largest decline (-27.9 per cent to 57,000t), followed by Hail Cement (-21 per cent to 64,000t) and Yamama Cement (-13.4 per cent to 219,000t). However, 12 manufacturers reported an increase in sales. This was led by...

Najran Cement resumes production at 6500tpd line

25 June 2019, Published under Cement News

Saudi Arabia’s Najran Cement has temporarily suspended operations of its second production line. However, it will resume production at its 6500tpd third line from 1 July due to a decrease in its clinker inventory, according to Reuters. The change in production lines is also expected to increase operational efficiency and decrease fixed costs in the FY19 by SAR5.7m (US$1.52m).

Hail Cement shuts down for maintenance

28 May 2019, Published under Cement News

Saudi cement producer Hail Cement Co has announced its planned shutdown of its production line for maintenance. The company’s cement mill and packaging line will remain in operation and therefore, order fulfilment will not be affected by the shutdown.

thyssenkrupp announces new country CEO of Saudi Arabia

22 May 2019, Published under Cement News

thyssenkrupp Industrial Solutions has announced that Volker Hellberg has succeeded Thomas Dreiling as its country CEO in Saudi Arabia. Mr Hellberg has a long track record in the Middle East, having joined the company in 2015. Mr Dreiling will now move to Germany and serve as the head of the company’s cement plants operating unit. Over a four-year period, he responsible for combining various thyssenkrupp businesses such as cement, mining, chemicals and services into a single entity – thyss...

Northern Cement announces 37% 1Q revenue rise

09 May 2019, Published under Cement News

Saudi cement producer Northern Cement reported a more than nine-fold rise in net profits after zakat and tax in the first quarter of 2019, according to Mubasher. Net profit reached SAR15.51m (US$4.1m), up from SAR1.46m in the 1Q18. Revenues remained stable at SAR113.3m in the1Q19 when compared with the 1Q18. Total profits increased by 67.8 per cent in the three months to SAR40.1m when compared with SAR23.9m in the year-ago period. Operational profits more than doubled to SAR40.1m in the 1Q...